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[quote=Anonymous]I came from nothing, parents didn't finish high school, went to college on loans and financial aid, was on food stamps in grad school, had no help with down payments, etc.  I became a lawyer and made real money, while hating every minute of the job.  I quit in my early fifties and haven't worked since.

We had our kids young.  We raised them in a top public school district and paid their way to good colleges.  We also threw them very nice weddings, treated them to first-class vacations, and when the time came assisted them greatly with home purchases.  But we're not "rich" by any real definition.  We have a net worth in the neighborhood of $7.5 million, and what I've found is that when you have that kind of money there's so much flexibility involved that people with less just don't have access to.

Here's the latest example.  Our youngest has been looking to rent a house in a close in suburb of DC where the spouse just got a new job.  We wanted them to have a nice place, but hated the idea of them throwing thousands of dollars in rent to somebody else.  So we went out and bought the perfect place for them ourselves, making an all cash offer, and financed the purchase through a line of credit tied to the value of our brokerage account.  It's a win-win situation:  they get the perfect house, we finance it without having to sell any of our holdings, and they pay rent to us instead of a stranger.  All the money stays within the family.

Our kids recognize that they are fortunate.  I'd ask the OP this:  what else are we supposed to do with our money, and why on earth should our kids turn down the help when help like this from us is easy?   [/quote]

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